HRM: Objectives and Function

HRM : Objectives And Functions


Objectives
The primary objective of HRM(Human Resource Management) is to ensure the availability of a competent and willing work force to an organization.
There are also some other objectives too.Specially, HRM objectives are four societal, organizational,functional and personal.
Societal Objectives : To be ethically and socially responsible to the needs and challenges of the society while minimising the negative
impact of
such demands upon the organization.The failure of organizations to use their resources for the society’s benefit in ethical ways may lead to restrictions.

<font size="5"Color="blue"Organizational Objectives:  To recognise the role of HRM in bringing about organizational effectiveness. HRM is not an end in itself.
It is only a means to assist the organization with its primary objectives .Simply stated ,the department exists to serve the rest of organization.
Functional Objectives: To maintain departments contribution at a level appropriate to the organization’s needs.
The department’s level of services
must be tailored to fit the organization it serves.
<font size="5"color="blue"Personal Objectives: To assist employees in achieving their personal goals, at least insofar as these goals enhance the individuals contribution to the
organization
Otherwise, emploee performance and satisfaction may decline and employees may leave the organization.


Function:
There are a number of function of HRM.Specilly four kinds of function are appeared….
(a)Societal objectives supporting Function
[legal compliance,benifits and union-management relation]
(b)Organizational objectives supporting function[Human resource planning,employee relations,selection,training and development,apprisal,placement And assessment]
(c)Functional objectives Supporting functions[Apprisal,placement And assessment]
(d)Personal objectives supporting function[Training and development Ad Compensation]

Financial Management: Defination & Scope of FM Continue reading “HRM: Objectives and Function”

Financial Management: Defination & Scope of FM

Financial Management:Defination,Scope

Definition:Finance may be defined as the art and science of managing money.Financial management
concerned with the duties of the financial managers in the busyness
firm.

That means financial management discuss about the financial affairs of any type of busyness namely ,financial and non-financial,private or public,large and small,profit seeking and non-profit.
It also refers to the budgeting,financial forecasting
,cash management,credit administration,investment analysis,funds management and so on.